Shopify (TSE:SHOP) Given New C$240.00 Price Target at ATB Cormark Capital Markets

Shopify (TSE:SHOP) had its target price decreased by equities researchers at ATB Cormark Capital Markets from C$250.00 to C$240.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective would indicate a potential upside of 66.88% from the company’s current price.

Separately, Wells Fargo & Company lowered their price target on Shopify from $191.00 to $166.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$206.33.

Shopify Stock Performance

Shares of SHOP stock traded down C$2.46 during trading on Wednesday, reaching C$143.82. 1,878,262 shares of the company’s stock traded hands, compared to its average volume of 1,960,731. The company has a market capitalization of C$186.73 billion, a P/E ratio of 153.00, a PEG ratio of 0.87 and a beta of 1.82. The company has a current ratio of 5.92, a quick ratio of 5.74 and a debt-to-equity ratio of 2.66. The firm’s 50-day moving average is C$167.70 and its 200 day moving average is C$195.79. Shopify has a 1 year low of C$122.40 and a 1 year high of C$253.10.

Shopify (TSE:SHOP) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C($0.63) EPS for the quarter. The business had revenue of C$4.41 billion for the quarter. Shopify had a net margin of 10.70% and a return on equity of 10.12%. Equities research analysts expect that Shopify will post 1.9256156 EPS for the current year.

Shopify Company Profile

Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store, and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as BarkBox, Vuori, BevMo, Carrier, JB Hi-Fi, Meta, ButcherBox, SKIMS, Supreme, and many more.